Stock Analysis on Net

Delta Air Lines Inc. (NYSE:DAL)

Analysis of Liquidity Ratios 

Microsoft Excel LibreOffice Calc

Liquidity Ratios (Summary)

Delta Air Lines Inc., liquidity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Current ratio 0.76 1.09 0.41 0.34 0.42
Quick ratio 0.65 0.97 0.28 0.22 0.27
Cash ratio 0.54 0.89 0.14 0.10 0.14

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Delta Air Lines Inc. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Delta Air Lines Inc. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Delta Air Lines Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Current Ratio

Delta Air Lines Inc., current ratio calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current assets 15,940  17,404  8,249  6,340  7,844 
Current liabilities 20,966  15,927  20,204  18,578  18,573 
Liquidity Ratio
Current ratio1 0.76 1.09 0.41 0.34 0.42
Benchmarks
Current Ratio, Competitors2
American Airlines Group Inc. 0.91 0.67 0.45 0.48 0.61
CSX Corp. 1.73 2.20 1.52 1.34 1.01
FedEx Corp. 1.51 1.58 1.45 1.39 1.59
Norfolk Southern Corp. 0.86 1.07 0.90 0.72 0.84
Union Pacific Corp. 0.62 1.01 0.79 0.90 1.02
United Parcel Service Inc. 1.42 1.19 1.11 1.15 1.22
Current Ratio, Sector
Transportation 1.08 1.12 0.77 0.76 0.85
Current Ratio, Industry
Industrials 1.27 1.37 1.08 1.07 1.17

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 15,940 ÷ 20,966 = 0.76

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Delta Air Lines Inc. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Quick Ratio

Delta Air Lines Inc., quick ratio calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents 7,933  8,307  2,882  1,565  1,814 
Short-term investments 3,386  5,789  —  203  825 
Accounts receivable, net of an allowance for uncollectible accounts 2,404  1,396  2,854  2,314  2,377 
Total quick assets 13,723  15,492  5,736  4,082  5,016 
 
Current liabilities 20,966  15,927  20,204  18,578  18,573 
Liquidity Ratio
Quick ratio1 0.65 0.97 0.28 0.22 0.27
Benchmarks
Quick Ratio, Competitors2
American Airlines Group Inc. 0.79 0.53 0.31 0.37 0.48
CSX Corp. 1.55 2.00 1.37 1.11 0.73
FedEx Corp. 1.40 1.45 1.27 1.22 1.46
Norfolk Southern Corp. 0.72 0.91 0.65 0.53 0.65
Union Pacific Corp. 0.47 0.79 0.56 0.65 0.70
United Parcel Service Inc. 1.32 1.00 0.99 0.99 1.01
Quick Ratio, Sector
Transportation 0.97 0.96 0.63 0.62 0.68
Quick Ratio, Industry
Industrials 0.79 0.87 0.64 0.65 0.75

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,723 ÷ 20,966 = 0.65

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Delta Air Lines Inc. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Cash Ratio

Delta Air Lines Inc., cash ratio calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents 7,933  8,307  2,882  1,565  1,814 
Short-term investments 3,386  5,789  —  203  825 
Total cash assets 11,319  14,096  2,882  1,768  2,639 
 
Current liabilities 20,966  15,927  20,204  18,578  18,573 
Liquidity Ratio
Cash ratio1 0.54 0.89 0.14 0.10 0.14
Benchmarks
Cash Ratio, Competitors2
American Airlines Group Inc. 0.71 0.45 0.22 0.27 0.36
CSX Corp. 1.04 1.55 0.91 0.58 0.22
FedEx Corp. 0.52 0.47 0.26 0.34 0.50
Norfolk Southern Corp. 0.33 0.52 0.25 0.14 0.27
Union Pacific Corp. 0.17 0.43 0.19 0.28 0.32
United Parcel Service Inc. 0.60 0.37 0.37 0.36 0.32
Cash Ratio, Sector
Transportation 0.57 0.57 0.25 0.25 0.29
Cash Ratio, Industry
Industrials 0.40 0.48 0.30 0.28 0.37

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 11,319 ÷ 20,966 = 0.54

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Delta Air Lines Inc. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.